Reevaluating Life Insurance After Retirement

I did the prudent think when I was employed. It’s about the only long range life planning I did. Life insurance and long term care insurance.

I bought life insurance equal to ten times my annual income. Luckily, the rates were affordable because I didn’t fall into a high risk category.

Life insurance companies vary in their qualifications. Some only ask basic questions like:

o Gender o Age o Smoking Habits o Height o Weight o Health History

The following are some of the things that are considered high-risk to life insurance companies. o Smokers o Heavy Drinkers o Drug Abusers (even if clean, a history of drug use places a consumer into this category) o Obesity o People with type 2 diabetes o Senior Citizens o Those with a Family History, where parents or siblings were diagnosed with Cancer orHeart Diseases prior to the age of 70.